Investing.com – The dollar is racing against the other major currencies in the european market this Friday, after a read broadly optimistic for the gross domestic product u.s., followed by a rebound in surprise of the activity of the chinese factories.
The announcement of the annualized growth of the u.s. economy by 2.6% in the fourth quarter and over 3% for the year as a whole for the first time since 2005 – has led to an increase in yields of the 10-year Treasury, supporting demand for the greenback.
It is then further enhanced, reaching a peak of 10 weeks against the japanese Yen after consumer confidence in Japan disappointing. To 03: 00 am ET, the dollar was at 111,81 yen, just below the highest of the day.
The yen was also weakened by the data is more encouraging from the survey Caixin, on the manufacturing in China on Friday morning, encouraging traders to make more transactions in yen. The general improvement in the appetite for risk has also had a positive impact on the Aussie and the kiwi.
Other indices of purchasing managers are expected throughout the morning in Europe, as well as the data on unemployment in Germany and in Italy and the figures relating to loans to the United Kingdom for January.
A little more confidence also in the euro, which has now advanced more than a cent, compared to the low reached in February against the dollar, thanks to signs of progress on the Brexit and at the limit, to the signs that the economy may have hit bottom. Germany’s retail sales for January, released earlier, rose 3.3% on a month.
The british pound, meanwhile, takes a pause after hitting its highest level against the euro in nearly two years Thursday after british regulators have confirmed a long grace period for financial companies adapting to the new rules after the Brexit. This decision, which must still be confirmed by the british government, further reduces the risk of a spin-disordered of the european Union. Against the dollar, the pound is consolidating its recent gains around the level of 1,3250 $.